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Financial results presentation2809Kewpie CorporationFood

Supplementary Explanatory Materials for the First Quarter Financial Results for the Fiscal Year Ending November 2026

In the first quarter of the fiscal year ending November 2026, revenue increased by ¥4.7 billion year on year to ¥124.7 billion, while operating profit increased by ¥2.0 billion to ¥7.8 billion. The full-year plan calls for revenue of ¥530.0 billion and operating profit of ¥38.0 billion, while net income attributable to owners of the parent is planned at ¥25.5 billion, below the previous fiscal year's actual result.

Worth reading
53Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Mixed performance
Direction inferred from the company’s description.
Scale
20
¥100 million (year-on-year change in operating income)
Wording
Conditional
How definitive the wording is.

Contents of this document

Supplementary materials to the earnings reportFirst quarter of the fiscal year ending November 20267 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales1,247 Hundreds of millions of yen+4.0%
Operating profit78 Hundreds of millions of yen+34.0%
Operating profit margin6.3 %
Results for the three months of the current quarter
Net Sales
1,247 Hundreds of millions of yen
Operating profit
78 Hundreds of millions of yen
Operating profit margin
6.3 %
Full-year earnings forecast
Net Sales
5,300 Hundreds of millions of yen
Operating profit
380 Hundreds of millions of yen
Ordinary income
400 Hundreds of millions of yen
Profit attributable to owners of the parent
255 Hundreds of millions of yen
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
FY2026 Q1 operating profit
FY2025 Q1 operating profit58
Gross profit from changes in revenue5
Change due to gross profit margin fluctuations (excluding major raw materials)-9
Impact of major raw materials9
Energy and general raw materials1
Logistics Costs-2
Sales promotion and advertising expenses-5
Other selling, general and administrative expenses-2
Shared operations, corporate expenses and other items-2
FY2026 Q1 operating profit78
Published FY2026 operating profit plan
FY2025 operating profit346
Gross profit from changes in revenue61
Change due to gross profit margin fluctuations (excluding major raw materials)92
Impact of major raw materials-17
Energy and general raw materials-32
Logistics Costs-10
Sales promotion and advertising expenses-15
Other selling, general and administrative expenses-36
Shared operations, corporate expenses and other items-9
Published FY2026 operating profit plan380
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • 150 Yen/Dollar
    AssumptionsUS dollar
  • 21 JPY/CNY
    AssumptionsRenminbi
  • 437 Yen/kg
    AssumptionsSoybeans and refined rapeseed oil for processed fats and oils
  • 305 Yen/kg
    AssumptionsJA Zen-Noh Tokyo benchmark price for Grade M eggs
Key KPIsA metric the company considers important as a management benchmark.
  • Overseas revenue growth rate (local-currency basis)-2 %
  • Domestic business profit margin6.3 %
  • ROA (return on assets), full-year plan8.4 %+0.5%
  • ROIC (return on invested capital), full-year plan7.1 %+0.5%
  • ROE (return on equity), full-year plan8 %-1.7%
Unit price and quantity metricsThese figures show sales broken down by price and volume.
  • Domestic salad dressings and seasonings: household use186
    Sales volume29
    Sales volume unitthousand tonnes
    Amount unitHundreds of millions of yen
    Unit price641
    Price unit¥/kg
    Year-on-year change in sales volume1
    Year-on-year change in amount6
    Year-on-year change in unit price2
  • Domestic salad dressings and seasonings: foodservice use112
    Sales volume22
    Sales volume unitthousand tonnes
    Amount unitHundreds of millions of yen
    Unit price509
    Price unit¥/kg
    Year-on-year change in sales volume0
    Year-on-year change in amount3
    Year-on-year change in unit price8
  • Domestic salad dressings and seasonings: exports17
    Sales volume3
    Sales volume unitthousand tonnes
    Amount unitHundreds of millions of yen
    Unit price567
    Price unit¥/kg
    Year-on-year change in sales volume-12
    Year-on-year change in amount-4
    Year-on-year change in unit price26
Segment results
  • Consumer products
    Net Sales457 Hundreds of millions of yen (YoY +2.0%)
    Operating profit34 Hundreds of millions of yen (YoY +89.0%)
  • Commercial products
    Net Sales461 Hundreds of millions of yen (YoY +8.0%)
    Operating profit31 Hundreds of millions of yen (YoY +72.0%)
  • Overseas expansion
    Net Sales243 Hundreds of millions of yen (YoY +1.0%)
    Operating profit28 Hundreds of millions of yen (YoY -26.0%)
  • Fruit Solutions
    Net Sales39 Hundreds of millions of yen (YoY +5.0%)
    Operating profit2 Hundreds of millions of yen
  • Fine chemicals
    Net Sales31 Hundreds of millions of yen (YoY 0.0%)
    Operating profit-6 Hundreds of millions of yen
Financial targets
ROA
8.4 %
ROIC
7.1 %
ROE
8 %
Capital expenditures
¥47 100 million cumulative for the first quarter of FY2026
Contents of this document
ItemDetails
Document typeSupplementary materials to the earnings report
Fiscal Period CoveredFirst quarter of the fiscal year ending November 2026
Net Sales1,247 Hundreds of millions of yen (YoY +4.0%)
Operating profit78 Hundreds of millions of yen (YoY +34.0%)
Operating profit margin6.3 %
Results for the three months of the current quarterNet Sales 1,247 Hundreds of millions of yen / Operating profit 78 Hundreds of millions of yen / Operating profit margin 6.3 %
Full-year earnings forecastNet Sales 5,300 Hundreds of millions of yen / Operating profit 380 Hundreds of millions of yen / Ordinary income 400 Hundreds of millions of yen / Profit attributable to owners of the parent 255 Hundreds of millions of yen
Segment resultsSegment Consumer products / Net Sales 457 Hundreds of millions of yen (YoY +2.0%) / Operating profit 34 Hundreds of millions of yen (YoY +89.0%), Segment Commercial products / Net Sales 461 Hundreds of millions of yen (YoY +8.0%) / Operating profit 31 Hundreds of millions of yen (YoY +72.0%), Segment Overseas expansion / Net Sales 243 Hundreds of millions of yen (YoY +1.0%) / Operating profit 28 Hundreds of millions of yen (YoY -26.0%), Segment Fruit Solutions / Net Sales 39 Hundreds of millions of yen (YoY +5.0%) / Operating profit 2 Hundreds of millions of yen, Segment Fine chemicals / Net Sales 31 Hundreds of millions of yen (YoY 0.0%) / Operating profit -6 Hundreds of millions of yen
Breakdown of Factors Affecting the ChangeFY2026 Q1 operating profit FY2025 Q1 operating profit 58 / Gross profit from changes in revenue 5 / Change due to gross profit margin fluctuations (excluding major raw materials) -9 / Impact of major raw materials 9 / Energy and general raw materials 1 / Logistics Costs -2 / Sales promotion and advertising expenses -5 / Other selling, general and administrative expenses -2 / Shared operations, corporate expenses and other items -2 / FY2026 Q1 operating profit 78 / Published FY2026 operating profit plan FY2025 operating profit 346 / Gross profit from changes in revenue 61 / Change due to gross profit margin fluctuations (excluding major raw materials) 92 / Impact of major raw materials -17 / Energy and general raw materials -32 / Logistics Costs -10 / Sales promotion and advertising expenses -15 / Other selling, general and administrative expenses -36 / Shared operations, corporate expenses and other items -9 / Published FY2026 operating profit plan 380
Key KPIsOverseas revenue growth rate (local-currency basis) -2 %, Domestic business profit margin 6.3 %, ROA (return on assets), full-year plan 8.4 % (YoY +0.5%), ROIC (return on invested capital), full-year plan 7.1 % (YoY +0.5%), ROE (return on equity), full-year plan 8 % (YoY -1.7%)
Unit price and quantity metricsCategory Domestic salad dressings and seasonings: household use / Sales volume 29 / Sales volume unit thousand tonnes / Amount 186 / Amount unit Hundreds of millions of yen / Unit price 641 / Price unit ¥/kg / Year-on-year change in sales volume 1 / Year-on-year change in amount 6 / Year-on-year change in unit price 2, Category Domestic salad dressings and seasonings: foodservice use / Sales volume 22 / Sales volume unit thousand tonnes / Amount 112 / Amount unit Hundreds of millions of yen / Unit price 509 / Price unit ¥/kg / Year-on-year change in sales volume 0 / Year-on-year change in amount 3 / Year-on-year change in unit price 8, Category Domestic salad dressings and seasonings: exports / Sales volume 3 / Sales volume unit thousand tonnes / Amount 17 / Amount unit Hundreds of millions of yen / Unit price 567 / Price unit ¥/kg / Year-on-year change in sales volume -12 / Year-on-year change in amount -4 / Year-on-year change in unit price 26
Assumptions Underlying the Business Outlook150 Yen/Dollar, 21 JPY/CNY, 437 Yen/kg, 305 Yen/kg
Financial targetsROA 8.4 % / ROIC 7.1 % / ROE 8 %
Capital expenditures¥47 100 million (cumulative for the first quarter of FY2026)
Items this document does not state (17)
Ordinary incomeNet incomeGross Profit MarginSelling, general and administrative expensesProgress against full-year forecastSelf-assessment against the planNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsAnnual DividendPayout ratioAcquisition of treasury sharesOrders received and order backlogMarket Size / ShareKey points of the Q&ANew initiatives

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

Factors contributing to the increase in operating profit included a ¥2.3 billion increase in gross profit from higher revenue, a ¥900 million impact from major raw materials, and a ¥100 million impact from energy and general raw materials. Factors reducing profit included a ¥900 million impact from changes in the gross profit margin, ¥500 million in sales promotion and advertising expenses, and ¥200 million in logistics costs.

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Supplementary Explanatory Materials for the First Quarter Financial Results for the Fiscal Year Ending November 2026 | Kewpie Corporation (2809) timely disclosure | Komori